Cabinet Watch: Clinton to Accept Secretary of State; Geithner Rumored to Be Treasury Pick

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From the NY Times:

Hillary Rodham Clinton has decided to give up her Senate seat and accept the position of secretary of state, making her the public face around the world for the administration of the man who beat her for the Democratic presidential nomination, two confidants said Friday. Mrs. Clinton came to her decision after additional discussion with President-elect Barack Obama about the nature of her role and his plans for foreign policy, said one of the confidants, who insisted on anonymity to discuss the situation. Mr. Obama’s office told reporters Thursday that the nomination is “on track” but Clinton associates only confirmed Friday afternoon that she has decided.

And a new name being rumored to fill a cabinet seat in an announcement on Monday:

NBC News has learned that the president-elect is preparing to roll out his economic team on Monday -- and will personally announce the team and answer questions -- part of an effort to reassure markets.

Barring last minute changes, the nominee for Treasury Secretary will be NY Fed President Tim Geithner -- a career Treasury official under both Bob Rubin and Larry Summers -- who actually had worked at the Treasury in three administrations under five Secretaries -- going back to 1988.

Geithner has been a key player in the current economic crisis -- helping Treasury Secretary Hank Paulson and his team manage the wall street bailout. - NBC

"Geithner has been a key player in the current economic crisis" Now THAT sounds reassuring!

We're keeping track of all of the Presidential Appointments that require Senate Confirmation as well as Presidential Appointments Not Needing Confirmation, as well as Cabinet rumors.